africa Angola Banking Economy Finance Legislation Tax

Angola tax authority creates transfer pricing unit

The General Tax Administration (AGT) has created a Transfer Pricing Unit (UPT) tasked with supervising and controlling transaction costs.

According to a press release signed by the AGT CEO, Silvio Burity, which reached Angop on Wednesday, the recently created unit is an ad-hoc technical administrative committee under the Large Tax Payers’ Office.

The said unit is also to ensure, control and secure the compliance of the Large Tax Payers with the mandatory submission of the transfer pricing data to AGT as established by a presidential decree.

The unit is also tasked with conducting audit on files associated with transfer pricing and see to it that declared operations actually comply with established rules of competition.

Source: Angop


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